Property Overview & Key Characteristics
This 2024-built, one-storey home in South Pointe West is a modern property with a practical layout. Its key appeal lies in being a nearly new construction, requiring minimal immediate upkeep, situated on a generous 4,722 sqft lot. The home features an attached garage and an unfinished basement, offering a blank canvas for future expansion.
The property suits first-time buyers or downsizers seeking a modern, low-maintenance living space without the concerns of an older home. Its single-level design is ideal for accessibility. The large lot is a significant asset in a newer neighbourhood, providing ample outdoor space for gardening, recreation, or future additions like a deck or patio—a feature that becomes increasingly valuable as the area matures and trees grow. While the living area is comfortable, the unrenovated basement presents a clear opportunity to increase the home’s functional space and value according to an owner's taste and budget.
Frequently Asked Questions
1. What does the "Top X%" ranking for the lot size mean?
The lot size of 4,722 sqft ranks in the top 55% on its street and top 46% in the wider neighbourhood. This means the lot is larger than over half of the properties nearby, which is a relative strength in newer subdivisions where lot sizes can vary.
2. The assessed value seems low compared to the recent sale price. Why?
The municipal assessed value of $50,500 is for taxation purposes and often lags behind the current market. The home sold for $58,900 in May 2024, which is a more accurate reflection of its recent market value.
3. Is the unfinished basement a drawback?
Not necessarily. For some, it’s an advantage. It means you avoid paying a premium for someone else’s basement finish and can customize the space to your exact needs, whether for storage, a home gym, or future bedrooms. Just factor in the potential cost to finish it.
4. How does this home compare to others in the area?
The home is newer than 99% of properties in the neighbourhood. While its living space is above average for the street, it is slightly below the neighbourhood median. Its value proposition is its newness and lot size rather than having the largest interior square footage.
5. What are the immediate next steps for a new owner?
Beyond personal decor changes, the primary project would be planning for the basement development. It’s also wise to investigate any remaining new-home warranties from the builder and to consider landscaping plans to make full use of the sizable lot.